Renewing your real estate license is crucial for a successful career in the dynamic and competitive real estate industry. In most states, NY included, realtors are required by law to renew their real estate license three months before expiration.
Renewing your NYS real estate license ensures that professionals stay current with industry regulations and best practices. Herein, we cover all the steps involved during the renewal process. The article will also highlight the benefits of ensuring that your relator’s license is up-to-date.
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Continuing Education Requirements
A New York realtor’s license is valid for two years. It is wise to note the expiration date and renew your NY real estate license three months in advance. Doing so will prevent you from a last-minute rush, minimizing the chances of your license becoming null without your knowledge.
Licensed real estate agents in New York are required to complete their continuing education courses before their licenses expire. Continuing education involves courses recommended by The New York Department of State.
Complete the Continuing Education Courses
All licensed realtors are required to complete 22.5 hours of approved continuing education courses for each renewal cycle. Licensees can take their required CE courses through a variety of platforms including online courses at RealEstateU or via attending physical classes.
Before signing up for the classes, ensure that the real estate school is approved by the New York Department of State. The courses cover topics you have encountered before but include new material from recent changes in real estate regulations. One of the main goals of continuing education coursework is to keep you updated with the changes in the real estate industry.
Online classes are a good option if you want flexible studying options. This will come in handy if you have a busy schedule and cannot make time to travel to and from school.
Submit Your Renewal Application
First, you must log into your eAccessNY portal or create one if you don’t have one. The eAccessNY license renewal process is straightforward, complete with a user guide to help you complete the process. After clicking the “I Agree” box and paying the renewal fee to finish the process, you will be redirected to a confirmation page at this point.
Ensure that your contact information is up-to-date to ensure you get renewal reminders and notifications from the website. You can also check the status of your license renewal through the eAccessNY system.
What About Lapsed Licenses?
Practicing real estate business in New York without a valid license will get you into legal trouble. The state does provide a grace period during which you can renew your NYS real estate license without severe penalties.
If you don’t renew your license within two years, you’ll have to retake the state licensing exam, apply for a new license, and pay the fee again.
The New York real estate license renewal is a simple process. The tips shared in this guide will help you renew your license to help you continue working as a competent realtor in New York.